HighTower Advisors LLC Acquires New Shares in Capital Group Municipal Income ETF (NYSEARCA:CGMU)

HighTower Advisors LLC bought a new position in shares of Capital Group Municipal Income ETF (NYSEARCA:CGMU) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,419 shares of the company’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in Capital Group Municipal Income ETF by 19.9% in the third quarter. Raymond James & Associates now owns 148,174 shares of the company’s stock valued at $4,069,000 after purchasing an additional 24,598 shares in the last quarter. Smith Thornton Advisors LLC acquired a new stake in shares of Capital Group Municipal Income ETF in the 2nd quarter valued at $750,000. New England Capital Financial Advisors LLC boosted its stake in shares of Capital Group Municipal Income ETF by 6.7% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 118,186 shares of the company’s stock valued at $3,173,000 after purchasing an additional 7,390 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Capital Group Municipal Income ETF by 32.0% in the 2nd quarter. LPL Financial LLC now owns 1,193,388 shares of the company’s stock valued at $32,042,000 after purchasing an additional 289,638 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in Capital Group Municipal Income ETF by 27.3% during the 2nd quarter. Harbour Investments Inc. now owns 25,685 shares of the company’s stock worth $690,000 after acquiring an additional 5,509 shares during the last quarter.

Capital Group Municipal Income ETF Stock Performance

NYSEARCA:CGMU opened at $26.87 on Wednesday. Capital Group Municipal Income ETF has a one year low of $26.56 and a one year high of $27.54. The firm’s 50 day simple moving average is $27.17 and its 200 day simple moving average is $27.20.

Capital Group Municipal Income ETF Increases Dividend

The business also recently announced a dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 29th were issued a $0.0674 dividend. The ex-dividend date was Friday, November 29th. This is a boost from Capital Group Municipal Income ETF’s previous dividend of $0.07.

About Capital Group Municipal Income ETF

The Capital Group Municipal Income ETF (CGMU) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal bonds of varying maturities, exempt from regular federal income tax. CGMU was launched on Oct 25, 2022 and is managed by Capital Group.